Cencora, Inc. (NYSE:COR) on Wednesday reported third-quarter 2025 sales increased 8.7% to $80.66 billion, beating the consensus of $80.354 billion.

Sales increased due to an 8.5% increase in revenue within the U.S. Healthcare Solutions segment and a 10.5% increase in revenue within the International Healthcare Solutions segment.

“Cencora delivered strong financial results in the third fiscal quarter, driven by our pharmaceutical-centric strategy and focus on our growth priorities,” said Robert Mauch, President and CEO of Cencora.

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U.S. Healthcare Solutions revenue was $72.9 billion in the third quarter of fiscal 2025, up 8.5% due to overall market growth primarily driven by unit volume growth, including increased sales of products labeled for diabetes and/or weight loss in the GLP-1 class and specialty products to physician practices and health systems.

International Healthcare Solutions’ revenue was $7.8 billion.

The company reported adjusted earnings of $4.00, up 19.8% year over year, beating the consensus of $3.82.

Adjusted gross profit reached $2.9 billion, up 20.7%, and adjusted operating income was $1.1 billion, up 20.6%.

Outlook

Cencora updated its fiscal year 2025 financial guidance to reflect stronger earnings growth in the U.S. Healthcare Solutions segment.

Cencora expects adjusted earnings to be $15.85-$16.00 versus prior guidance from $15.70-$15.95 and a consensus of $15.81.

The company updated its fiscal 2025 sales guidance from $317.37 billion-$323.25 billion to approximately $320.31 billion compared to the consensus of $321.64 billion.

The guidance assumes revenue growth of approximately 9% from the previous range of 8%-10%.

U.S. Healthcare Solutions segment revenue growth is projected between 9%-10%, compared to the previous range of 9%-11%.

International Healthcare Solutions segment revenue growth is projected to be in the range of 6%-7% from the previous range of 3% to 4%.

Adjusted consolidated operating income growth to be between 15%-16%, from the previous range of 13.5%-15.5%.

During the earnings conference call, Cencora said it’s too early to assess the impact of Most Favored Nation (MFN) and other policy changes.

Cencora’s business has not been significantly affected by tariffs, and the company is not changing its sourcing practices as a result. The company remains confident in the stability of its supply chain.

The company is monitoring differences in brand versus generic supply chains for risk of shortages and patient access disruptions.

Price Action: Cencora stock is trading lower by 2.30% to $285.64 at last check Wednesday.

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